Former Barclays Executives Returning to Court; European Bank Chief Will Address News Media

By The New York Times

July 16, 2017

Here’s a look at what’s coming up this week.

BANKING INDUSTRY

Former Barclays executives are due in court.

John S. Varley, the former Barclays chief executive, and three other former top managers are expected back in court on Monday to answer charges that they, along with the bank, misrepresented arrangements with the Persian Gulf nation of Qatar when the bank raised money to weather the financial crisis in 2008.

British authorities brought criminal charges against Barclays and the men last month, representing the first criminal case in Britain against a bank for actions taken during the financial crisis. The men are among the most senior bank managers to be charged anywhere in a crisis-era case. The bank raised a total of $15 billion with two capital infusions from Qatar and other investors in June and October 2008, allowing it to avoid a government bailout.

The executives are expected to enter not-guilty pleas on Monday at a hearing in Southwark Crown Court in London, after making a brief appearance in Westminster Magistrates’ Court and having bail set earlier this month. Chad Bray

Banks are expected to post high second-quarter earnings.

JPMorgan Chase, Citigroup and Wells Fargo all posted higher-than-expected second-quarter earnings on Friday, even though they had weak trading revenue. That trend is expected to continue this week when BlackRock posts its second-quarter results on Monday, followed by Bank of America and Goldman Sachs on Tuesday, and Morgan Stanley on Wednesday. Bank of America has already predicted that its trading results will be down by double digits this quarter. With trading soft recently, banks have had to raise profits with other arms of their business, like commercial banking. Zach Wichter

ECONOMY

Construction of new homes continues to fall.

Construction of new homes fell for the third month in a row in May, weighing on economic growth and adding to a long-run shortage of houses for sale. How long can this last? Mortgage rates are low, job growth is charging ahead and household balance sheets are as strong as they’ve been in 15 years. The data on housing starts is notoriously choppy from month to month, but economists expect the June number to show an increase when it is released on Wednesday. If not then, then eventually: Construction seems poised to move upward this year, but it is likely to be a grind. Conor Dougherty

European Central Bank president to provide policy update.

Mario Draghi, the president of the European Central Bank, will have to watch his words even more carefully than usual when he holds a news conference on Thursday in Frankfurt after a meeting of the bank’s Governing Council on monetary policy. Recent weeks have shown that even a slight change in Mr. Draghi’s tone can unleash havoc in bond markets. Investors are hypersensitive to any signals about when the central bank will begin to reduce its stimulus to the eurozone economy, which is looking healthier than it has in a decade. Mr. Draghi will be walking a verbal tightrope as he tries to prepare markets for what is coming without provoking an overreaction. Jack Ewing

TECHNOLOGY

Cloud business fuels Microsoft revenue growth.

Cloud computing is likely to again be the preoccupation of investors when Microsoft reports financial results on Thursday. The company has come back into favor on Wall Street, sending its stock to new highs, as it has evolved into a credible No. 2 player behind Amazon in the cloud business. Double-digit revenue growth in Microsoft’s commercial cloud business is expected. The company may also see a lift in sales in hardware from new models in its Surface family of computers. Nick Wingfield

MEDIA

‘Game of Thrones’ front and center at Comic-Con.

It’s sunny and warm in California, but make no mistake: Winter is here. Comic-Con International opens on Thursday in San Diego, and for the first time, it coincides with a season of “Game of Thrones.” HBO is taking advantage of the timing, descending on the fan convention with a marketing onslaught, including a “winterized” journey through Westeros, a panel in the enormous Hall H, exclusive merchandise, wine and beer sampling and a cast appearance on “Conan” on TBS. USA Network will be on hand to promote “Mr. Robot” by unveiling a mystery to unravel and opening the Bank of E, which will give away cards loaded with cryptocurrency. Fans can also celebrate new beginnings at the Syfy Geek Love Chapel, where Orlando Jones will officiate weddings, or say farewell at a funeral procession for History’s “Vikings,” which wends its way to the waterfront, where a “corpse” will be placed on a 45-foot long ship and set ablaze at sundown for its journey to Valhalla. Gregory Schmidt

INDUSTRIALS

‘End of an era’ for departing G.E. chief.

General Electric reports its earnings on Friday with a different script than usual. Jeffrey R. Immelt, who was replaced as chief executive in June, will be making his last appearance in the quarterly ritual after 16 years. He will be joined by his replacement, John Flannery, who doesn’t formally take the top post until August. “There’s drama, and it’s the end of an era,” said Deane Dray, an analyst at RBC Capital Markets. Mr. Flannery is conducting a top-to-bottom review of G.E.’s many industrial businesses. The quarterly results may provide early clues to his plans for the company, which he will announce in the fall. Steve Lohr

A version of this article appears in print on , on Page B2 of the New York edition with the headline: Business Briefing; Barclays Case in Court; E.C.B. Weighing In. Order Reprints | Today’s Paper | Subscribe